CHAPTER 14
SELLER PROPERTY CONDITION DISCLOSURE
[Prior to 9/4/02, see 193E—Ch 1]
193E—14.1(543B) Property condition disclosure requirement. The requirements of this chapter shall apply to transfers of real estate subject to Iowa Code chapter 558A. For purposes of this chapter, “transfer” means the transfer or conveyance of real estate by sale, exchange, real estate contract, or any other method by which real estate and improvements are purchased, including rental or lease agreements which contain any option to purchase, if the property includes at least one but no more than four dwelling units unless the transfer is exempted by Iowa Code section 558A.1(4).
	14.1(1) Additional disclosure. Nothing in this rule is intended to prevent any additional disclosure or to relieve the parties or agents in the transaction from making any disclosure otherwise required by law or contract.
	14.1(2) Licensee responsibilities to seller. At the time a licensee obtains a listing, the listing licensee shall obtain a completed disclosure signed and dated by each seller represented by the licensee.
	a. 	A licensee representing a seller shall deliver the executed statement to a potential buyer, a potential buyer’s agent, or any other third party who may be representing a potential buyer, prior to the seller’s making a written offer to sell or the seller’s accepting a written offer to buy.
	b. 	The licensee representing a seller shall attempt to obtain the buyer’s signature and date of signature on the statement and shall provide the seller and the buyer with fully executed copies of the disclosure and maintain a copy of the written acknowledgment in the transaction file. If the licensee is unable to obtain the buyer’s signature, the licensee shall obtain other documentation establishing delivery of the disclosure and maintain the written documentation in the transaction file.
	c. 	If the transaction closes, the listing broker shall maintain the completed disclosure statement for a minimum of five years.
	d. 	The executed disclosure statement shall be delivered to the buyer(s) by either personal delivery or by certified or registered mail. If there is more than one buyer, any one buyer may accept delivery of the executed statement.
	14.1(3) Licensee responsibilities to buyer. A licensee representing a buyer in a transfer shall notify the buyer of the seller’s obligation to deliver the property disclosure statement.
	a. 	If the disclosure statement is not delivered when required, the licensee shall notify the buyer that the buyer may revoke or withdraw the offer.
	b. 	If a buyer elects to revoke or withdraw the offer, the licensee shall obtain a written revocation or withdrawal from the buyer and shall deliver the revocation or withdrawal to the seller within three days following personal delivery or five days following delivery of the disclosure by mail to the buyer.
	c. 	Following revocation or withdrawal of the offer, any earnest money deposit shall be promptly returned without liability pursuant to Iowa Code chapter 558A and rule 193E—13.4(543B).
	14.1(4) Inclusion of written reports. A written report or opinion prepared by a person qualified to render the report or opinion may be included in a disclosure statement. A report may be prepared by, but not limited to, the following persons provided that the content of the report or opinion is within the specified area of expertise of the provider: a land surveyor licensed pursuant to Iowa Code chapter 542B; a geologist; a structural pest control operator licensed pursuant to Iowa Code section 206.6; or a qualified building contractor.
	a. 	The seller must identify the required disclosure items which are to be satisfied by the report.
	b. 	If the report is prepared for the specific purpose of satisfying the disclosure requirement, the preparer of the report shall specifically identify the items of the disclosure which the report is intended to satisfy.
	c. 	A licensee representing a seller shall provide the seller with information on the proper use of reports if reports are used as part of the disclosure statement.
	14.1(5) Amended disclosure statement. A licensee’s obligations with respect to any amended disclosure statement are the same as the licensee’s obligations with respect to the original disclosure statement. A disclosure statement must be amended if information disclosed is or becomes inaccurate or misleading or is supplemented unless one of the following exceptions applies:
	a. 	The information disclosed in conformance with Iowa Code chapter 558A is subsequently rendered inaccurate as a result of an act, occurrence, or agreement subsequent to the delivery of the disclosure statement.
	b. 	The information disclosed is based on information of a public agency, including the state, a political subdivision of the state, or the United States.
	14.1(6) Minimum disclosure statement contents for all transfers. All property disclosure statements, whether or not a licensee assists in the transaction, shall contain at a minimum the information required by the following sample statement. No particular language is required in the disclosure statement provided that the required disclosure items are included and the disclosure complies with Iowa Code chapter 558A. To assist real estate licensees and the public, the commission recommends use of the following sample language:
RESIDENTIAL PROPERTY SELLER DISCLOSURE STATEMENT
Property address: 	
PURPOSE:
Use this statement to disclose information as required by Iowa Code chapter 558A. This law requires certain sellers of residential property that includes at least one and no more than four dwelling units to disclose information about the property to be sold. The following disclosures are made by the seller(s) and not by any agent acting on behalf of the seller(s).
INSTRUCTIONS TO SELLER(S):

1.	Seller(s) must complete this statement. Respond to all questions, or attach reports allowed by Iowa Code section 558A.4(2);
2.	Disclose all known conditions materially affecting this property;
3.	If an item does not apply to this property, indicate that it is not applicable (N/A);
4.	Please provide information in good faith and make a reasonable effort to ascertain the required information. If the required information is unknown or is unavailable following a reasonable effort, use an approximation of the information, or indicate that the information is unknown (UNK). All approximations must be identified as approximations (AP);
5.	Additional pages may be attached as needed;
6.	Keep a copy of this statement with your other important papers.	
1. Basement/Foundation: Any known water or other problems?	Yes [ ]	No [ ]	
2. Roof: Any known problems?	Yes [ ]	No [ ]	
Any known repairs?	Yes [ ]	No [ ]	
If yes, date of repairs/replacement: ____/____/____	

3. Well and Pump: Any known problems?	Yes [ ]	No [ ]	
Any known repairs?	Yes [ ]	No [ ]	

If yes, date of repairs/replacement: ____/____/____	
Any known water tests?	Yes [ ]	No [ ]	
If yes, date of last report: ____/____/____	 	 	
and results: 		

4. Septic Tanks/Drain Fields: Any known problems?	Yes [ ]	No [ ]	
Location of tank: 		
Date tank last cleaned: ____/____/____	
5. Sewer System: Any known problems?	Yes [ ]	No [ ]	
Any known repairs?	Yes [ ]	No [ ]	
If yes, date of repairs/replacement: ____/____/____	 	 	
6. Heating System(s): Any known problems?	Yes [ ]	No [ ]	
Any known repairs?	Yes [ ]	No [ ]	
If yes, date of repairs/replacement: ____/____/____	
7. Central Cooling System(s): Any known problems?	Yes [ ]	No [ ]	
Any known repairs?	Yes [ ]	No [ ]	
If yes, date of repairs/replacement: ____/____/____	
8. Plumbing System(s): Any known problems?	Yes [ ]	No [ ]	
Any known repairs?	Yes [ ]	No [ ]	
If yes, date of repairs/replacement: ____/____/____	

9. Electrical System(s): Any known problems?	Yes [ ]	No [ ]	
Any known repairs?	Yes [ ]	No [ ]	
If yes, date of repairs/replacement: ____/____/____	
10. Pest Infestation (e.g., termites, carpenter ants): Any known problems?	Yes [ ]	No [ ]	
If yes, date(s) of treatment: ____/____/____	
Any known structural damage?	Yes [ ]	No [ ]	
If yes, date(s) of repairs/replacement: ____/____/____	
11. Asbestos: Any known to be present in the structure?	Yes [ ]	No [ ]	
If yes, explain: 		
12. Radon: Any known tests for the presence of radon gas?	Yes [ ]	No [ ]	
If yes, date of last report: ____/____/____	
and results: 		
13. Lead-Based Paint: Any known to be present in the structure?	Yes [ ]	No [ ]	
14. Flood Plain: Do you know if the property is located in a flood plain?	Yes [ ]	No [ ]	
If yes, what is the flood plain designation? 		
15. Zoning: Do you know the zoning classification of the property?	Yes [ ]	No [ ]	
If yes, what is the zoning classification? 		
16. Covenants: Is the property subject to restrictive convenants?	Yes [ ]	No [ ]	
If yes, attach a copy or state where a true, current copy of the convenants can be obtained:	
 			
17. Shared or Co-Owned Features: Any features of the property known to be shared in common with adjoining landowners, such as walls, fences, roads, and driveways whose use or maintenance responsibility may have an effect on the property?	Yes [ ]	No [ ]	
Any known “common areas” such as pools, tennis courts, walkways, or other areas co-owned with others, or a Homeowner’s Association which has any authority over the property?	Yes [ ]	No [ ]	
18. Physical Problems: Any known settling, flooding, drainage or grading problems?	Yes [ ]	No [ ]	

19. Structural Damage: Any known structural damage?	Yes [ ]	No [ ]	
20. Is the property located in a real estate improvement district?	Yes [ ]	No [ ]	
If yes, indicate the amount of any special assessment against the property: $		
You MUST explain any “YES” response(s) above. Use the back of this statement or additional sheets as necessary: 	

	
SELLER(S) DISCLOSURE:
Seller(s) discloses the information regarding this property based on information known or reasonably available to the Seller(s).
The Seller(s) has owned the property since ____/____/____. The Seller(s) certifies that as of the date signed this information is true and accurate to the best of my/our knowledge.

Seller		Seller		
Date ____/____/____	Date ____/____/____	
BUYER(S) ACKNOWLEDGMENT:
Buyer(s) acknowledges receipt of a copy of this Real Estate Disclosure Statement. This statement is not intended to be a warranty or to substitute for any inspection the buyer(s) may wish to obtain.

Buyer		Buyer		
Date ____/____/____	Date ____/____/____	
This rule is intended to implement Iowa Code chapters 17A, 272C, 543B, and 558A.
[Filed 8/9/02, Notice 6/26/02—published 9/4/02, effective 10/9/02]
[Filed 11/7/05, Notice 8/31/05—published 12/7/05, effective 1/11/06]
[Editorial change: IAC Supplement 9/10/08]